Oakley Capital Investments sold its stake in Emesa Group Holdings to Cyrte Investments for 95m euros, the Bermudian-based investor said Friday.
The company's fund, Oakley Capital Private Equity (Limited Partnership), originally purchased Emesa in March 2011 for a consideration of €35m.
The transaction represents a 3.6 times gross return for the fund in less than two years of ownership, with an internal rate of return in excess of 100%.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
"Emesa has been another successful investment for the Limited Partnership," Director of Oakley, Peter Dubens, said.
"This is a significant disposal for the fund and delivers an attractive return to investors after a holding period of less than two years. It has been a pleasure for the Oakley team to work with the management of Emesa, and we wish them continued success with their new partners."
Shares dropped 0.18% to 140.00p at 10:52 Friday.
IHT receipts approach record year – will the tax be reformed?
News The Treasury is set to take £7.6 billion from inheritance tax payments this financial year amid rumours of reform in the Spring Budget
By Marc Shoffman Published
Stocks and shares ISAs beat cash ISAs despite rising interest rates
Exclusive analysis for MoneyWeek shows that the stock market beat cash ISAs last year - and when inflation is factored in, cash savers actually made a loss. We run through the figures.
By Ruth Emery Published